ING and Caterpillar become latest investors in QTS' state-of-the-art data centers
- QTS closes additional $45 million of commitments from ING and Caterpillar, increasing total revolving credit facility to $170 million.
- Accordion feature will continue to allow QTS to increase size of revolving credit facility up to $250 million in the future.
- Additional commitments exemplify investor confidence in QTS' expanding state-of-the-art data center business.
KANSAS CITY (March 29, 2011) - QTS (Quality Technology Services), one of the nation's largest and fastest-growing providers of data centers and managed services, today announced that investments from ING Capital [NYSE: ING] and Caterpillar Financial Services [NYSE: CAT] have increased the capacity of the company's revolving credit by $45 million. Established in September 2010, the revolving credit facility, now totaling $170 million, is secured by the QTS Atlanta Metro Data Center asset, which is the second largest data center in the world. The credit facility also continues to provide for an accordion feature to increase the amount of the facility up to $250 million.
"QTS appreciates the confidence these financial institutions have in the future of QTS and their willingness to participate in this revolving credit facility," said Bill Schafer, chief financial officer - QTS. "The increased capacity significantly enhances QTS' financial flexibility as the company continues to expand its data center facilities in Santa Clara, Richmond, Jersey City, and Atlanta."
The revolving credit facility was arranged by Key Bank, which also serves as administrative agent. ING Capital and Caterpillar Financial Services join lead arranger KeyBanc Capital Markets and five additional financial institutions as revolving credit facility participants, including Citibank, N.A., Credit Suisse AG, Deutsche Bank Trust Company Americas, and Royal Bank of Canada.
QTS (Quality Technology Services) is a leading national provider of data center solutions and fully managed services for enterprise businesses. The company offers a complete, unique portfolio of core data center services, including custom data center, colocation and cloud services, providing the flexibility, scale and security needed to support the rapidly evolving infrastructure demands of web and IT applications. With 12 locations in seven states, QTS owns, operates and manages more than 3.1 million square feet of secure, state-of-the-art data center infrastructure and supports more than 600 customers. For more information about QTS, please visit www.qualitytech.com, call 877.QTS.DATA or follow QTS on Twitter @DataCenters_QTS.
Anna Ruth Williams
communications 21 for QTS